A Quote by Aaron Patzer
One of my top tips for aspiring entrepreneurs: Tell everyone you know about your idea. This runs contrary to the instinct that most people have, because they're afraid someone is going to 'steal my ideal.' Ideas alone are worth very little; it's in the execution and market feedback that companies are made.
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When I have an idea, I share it with everyone. People say someone will steal my idea, but it's not like I invented something that will replace the toilet. I tell people to get their feedback. Will they buy it, help me improve it, or tell me it's already been done? If someone else is excited, he or she might buy into the business.
Ask for feedback from people with diverse backgrounds. Each one will tell you one useful thing. If you're at the top of the chain, sometimes people won't give you honest feedback because they're afraid. In this case, disguise yourself, or get feedback from other sources.
Don't you dare underestimate the power of your own instinct. Instinct is a lifesaver for sharks and entrepreneurs alike. Most people can recall times they ignored their gut only to regret it later. Learning to actually listen to your instinct is a great form of self-preservation. It's both incredibly easy and tough at the same time, but worth the effort to master.
When people ask me where I get my ideas, I lie. I tell them I draw inspiration from the news, the world, my dreams. Or I joke and say that I steal from other writers. I lie because I don't know where ideas come from, and I'm afraid if I look too hard, they'll stop coming.
Tell anyone and everyone your idea without fear they're going to steal it.
I've known people who had fantastic ideas, but who couldn't get the idea off the ground because they approached everything weakly. They thought that their ideas would somehow take off by themselves, or that just coming up with an idea was enough. Let me tell you something - it's not enough. It will never be enough. You have to put the idea into action. If you don't have the motivation and the enthusiasm, your great idea will simply sit on top of your desk or inside your head and go nowhere.
I tell aspiring entrepreneurs all the time: Validate your idea locally. Get some experience under your belt. Prove your idea has legs where you are. Spend some time as a big fish in a small pond. Demonstrate that there's a there there... there. Where you live.
In business, the market gives you feedback in real time. Your sales figures tell you what's working, what isn't, and how you need to change. If you don't listen to the feedback, you go belly up. In philanthropy, there is no market.
As financial market players know, advantage comes from reacting to news first. The same thing is true for all companies. When you start the conversation, you are recognised as someone who is plugged into the marketplace of ideas. If you talk about an idea early, you naturally get more exposure because the threads of conversation stem from what you have said. If you're in late you get lost in the cacophony.
In America, when you bring an idea to market, you usually have several months before competition pops up, allowing you to capture significant market share. In China, you can have hundreds of competitors within the first hours of going live. Ideas are not important in China - execution is.
You know, an idea is just an idea. There seems to... the kind of epiphanies that you have, like the little sudden bursts of light, they're very small and they're very short and it's the pursuit of the idea that's the important thing. . . . I know a lot of people who have way better ideas than I do that-much more frequently than I do that just can't sit down and actually do it. Ideas are such are a little overrated really; it's the work behind the idea that's the important thing.
Don't solicit feedback on your product, idea or your business just for validation purposes. You want to tell the people who can help move your idea forward, but if you're just looking to your friend, co-worker, husband or wife for validation, be careful. It can stop a lot of multimillion-dollar ideas in their tracks in the beginning.
There's no such thing as good ideas and bad ideas. There are only your own ideas and other people's. If you want someone to like your idea, tell him he said it first last week and you just remembered it.
Most people think it's all about the idea. It's not. EVERYONE has ideas. The hard part is doing the homework to know if the idea could work in an industry, then doing the preparation to be able to execute on the idea.
Don't be afraid to convince yourself that your business is incredible, but don't expect others to be convinced without solid data to back it up. Ideas can be a worth a lot, but they are usually not. Execution is everything.
After building most of Mint.com's prototype by myself, I talked to anyone and everyone I knew about Mint. It's counter-intuitive, because you might fear someone will steal your idea, but it's the only way to make connections, be sure you're on the right track, and provide a solution for an audience broader than yourself.
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